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Topic: DREAMLAND CALLS IN ADMINISTRATORS (Read 849 times)

The bbc headline reads as follows.The operators of the Margate amusement park, Dreamland, have called in administrators after struggling to turn the business around.Dreamland reopened in June 2015 after an £18m restoration.However, in January it was announced creditors had given operator Sands Heritage five years to repay £3m debts.Administrators Duff and Phelps said the park would continue to operate as normal while it gauged the state of of the business.Nick Conington, who is the chairman of Sands Heritage, said: "Many people have worked tirelessly, despite truly challenging circumstances beyond their control, to make Dreamland one the UK's most talked about visitor attractions."Thanet District Council, which owns the entire site, has already paid an additional £1m of taxpayers' money to the park.Rob Kenyon, the council's director of community services, said the authority "remained committed" to the development.Benjamin Wiles, managing director of Duff and Phelps, said the park was open and it was "very much business as usual".He said: "With a full programme of high profile events throughout the year, new rides and the opening of the Hall by The Sea in 2016, Dreamland is now in position to have an outstanding year."well nobody said it was going to be easy but less than a year,lets hope someone comes along who can breathe life into this great park

This isn't surprising as some of the trades people are still waiting to be paid from last year's work....

As much as I love what Dreamland has achieved, I fear it's cost them too much to be a financial success. Time will tell, I guess. The pricing strategy has already changed at the hands of the administrators and it's now free entry with pay as you go and wrist band options. This is a good move. I really hope Dreamland can succeed in the long run...